Buffalo, New York Business Gets SBA-Guaranteed Funding from Manufacturers & Traders Trust

Manufacturers & Traders Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New York entrepreneur who tapped into the power of SBA loans.

This growing company knew how to go about getting a business bank loan. Based in Buffalo, New York, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Manufacturers & Traders Trust, based in Amherst, New York.

SBA Loan Borrower

COMPANY TYPE: UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING
BUFFALO, NY 14214

SBA Loan Lender

MANUFACTURERS & TRADERS TRUST
4925 MAIN ST
AMHERST, NY 14226

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337121 - Upholstered Household Furniture Manufacturing

Loan Approval Date

9/25/2002

Loan Approval Gross Amount

$240,000

Loan Approval from the SBA

Of the total $240,000 loan amount, the SBA guaranteed $180,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Buffalo NY, you ought to talk with a local Buffalo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Buffalo businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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Who Lends Money to Small Businesses in Amherst, New York

SBA Participating Banks in New York